DASH Price Analysis: DASH Crypto spikes as Mila Kunis and Ashton Kutcher go on record to speak about it

  • The press time price of DASH/USDT is $127 established on the back of a 10% decline in the past 24 hours
  • Monday’s surge contributed to the price action breaking out of the Descending Triangle Pattern

What is DASH Crypto? 

DASH is a privacy coin that happens to be an open-source protocol that originated as a hard fork from the Bitcoin Blockchain. In addition to accomplishing near-instant transactions, this crypto asset has also enabled a private send protocol. By featuring some of the most advanced stipulations, DASH Crypto has established the ground as one of the top privacy coins.

In recent events, the crypto asset fixated a rally of 65% in one day as a consequence of Hollywood’s darling couple speaking about it. Mila Kunis and Ashton Kutcher made it a point to talk about DASH in the latest episode of the Armchair Expert podcast. Keeping in mind that the podcast was entirely based on cryptocurrencies, a word from the couple spiked a massive bull intraday session for the privacy coin.

Dash Price on a comeback trail on the daily chart 

DASH/USDT on TradingView

The daily technical chart of DASH Crypto highlights the fact that the price maintained its sluggish momentum since the fatal drop. Tables turned on July 19th once the DASH community witnessed a shoutout by famous celebrities. The price broke out of the Descending Triangle Pattern as evidenced by the enormous green candlestick smashing right through it. The long wick of Monday’s candlestick represented the fact that the price got rejected at $187, which is presently bolstered by the 200 EMA.

However, DASH price retraced the following day by tanking an overall 16%, exhibiting tension inside the supple zone. Presently facing hindrance from the 20 EMA, the asset is attempting to get past the overhead resistance of $130. A decisive close below the 20 EMA in today’s intraday session will add light to the fact that Monday’s boost was just another Dead Cat Bounce.

Dismissal from the resistance of $130 will be accompanied by the prevalence of the bears. The bears will further attempt to give the price a taste of its June lows by plunging down to $107. The bearish outlook will mark a downswing of 16% from the current price level.

On the contrary, the ability of the bears to get past the 20 EMA will contradict the above outlook. The bullish outcome will only hold accountable once the volume continues to supersede the 20-period Moving Average. Yesterday’s sell-off candlestick was at its peak as demonstrated by the volume of (812 K) commanding the 20 EMA, which was hovering inside the range of (172 K).

While the risk of further decline still lingers, DASH Crypto continues to maintain the 50th rank on the Coinmarketcap website.

SUPPORT : $107

RESISTANCE : $130

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